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COMFORT EKELEME
Nestlé Nigeria Plc said its revenue for the year 2019 stood at N 283.9 billion representing a 6.6 per cent growth over the previous year.
In its financial results for the year 2019, the Nestlé’s gross profit for the year stood at N 127.6 billion, compared to N 113.9 billion during the previous year.
Also, the Company posted N 45.6 billion as Profit After Tax (PAT) for the year against the previous year’s N 43 billion.
In addition to N 25 per share interim dividend already paid, the Board proposed an additional dividend of N 45 per share making for a total dividend of N 70 for 2019.
This proposed dividend will be submitted for approval at the company’s Annual General Meeting on 2nd June 2020.
Managing Director/ Chief Executive Officer of Nestle, Mauricio Alarcon, said: “In 2019, we reaffirmed our market leadership by delivering increased profits and dividends to shareholders. We achieved this by responding speedily to consumer preferences, by offering product innovation and improving our distribution channels. Our high-performing team adapted quickly to changing consumer expectations by adopting new ways of delighting our consumers in the market place”.
He said the company enhanced its portfolio with new products including MAGGI Signature seasoning mixes adapted to consumer tastes and cuisine across the country. CERELAC Junior fortified with iron was also launched to help meet the nutrition needs of pre-school children.
Giving the outlook for 2020, Mr. Alarcon said: “We will continue to focus on the innovation and the renovation of our products and on rolling out new solutions and services in response to changing consumer needs. This will prepare us for the challenges ahead while we partner with key stakeholders for the growth of the local economy”.
Speaking further he said with society looking more to business to improve social amenities, Nestlé Nigeria would continue to invest in creating shared value by improving livelihoods in the communities closest to our business operations.
“This is in line with our purpose of enhancing quality of life and contributing to a healthier future. We will also drive new initiatives to empower our people to deliver outstanding results for themselves, for the organisation and for society”, he said.
For a better society
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